Welcome to The Week in Crypto – Apr 1st 2018
Where to start? This week has not been great to say the least! What with the announcements of more big name companies banning the use of their services (to promote crypto) to more exchanges getting closed – it all seems likes doom – but.. maybe not for all?
Overall, the cryptocurrency market dropped approximately 22.5%, moving down from $333 billion to $258 billion. The lowest it has been in 2018.
Bitcoin: The original coin took the lead in the fall, but regained the best out of all coins from $8,655 to $6,920 (-20.04%)
Ethereum: Eth continues the slide down – the ATH over $1000+ seems a long-distant memory – it fell from $528 to $383 (-27.46%)
Ripple: Didn’t do quite as bad as Ethereum, but now far under the all-time high of $2 – it fell from $0.65 to $0.50 (-23.07%)
Bitcoin Cash: Fundamentals were very poor for BCH this week and it dropped a massive $984 to $653 (-33.6%)
Litecoin: Falling as much as BCH but has regained a small amount of losses, it still fell from $161 to $115 (-28.5%)
- Total cryptocurrencies: 1,596
- Market cap: $258,099,414,445
- BTC dominance: 45.5%
Top 20 cryptocurrencies as by market cap:
Market cap changes by coin for the last week:
Quite a week in the cryptocurrency markets – following on from the crypto-advertising bans from Facebook, Google. Now Twitter and MailChimp ban too (hold on, that is pretty much every service we use.. 🤔) it seems the greater internet aren’t so keen on helping pump ICOs and Exchanges – with so many of them unfortunately being scams due to the lack of regulation, these companies are turning off clients in order to protect their end users too – understandable, but adverts are still getting through the cracks despite the bans (here is looking at you Facebook and the Russian “cake shop” advertising ICOs all week in our feeds!)
Did the futures markets negatively effect the Bitcoin price and the entire crypto industry?
West Virginia becomes first state to implement blockchain mobile voting solution, German National Tourist Board now accepts Cryptocurrencies as payment for services. Meanwhile, scammers are purporting to be Cryptocurrency Exchange Tech Support, FBI warns.
Oh, and if you are looking to offload your crypto whilst in Japan, a car dealership now accepts Bitcoin payments up to $1 million for their luxury cars – not sure they’ll get many taking up that offer currently though.
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We’ll be back next week with another update on Sunday, 8th April.